Haldane McCall Pays N220.6m Dividend, Shareholders Endorse Capital Raise Plan
Kayode Tokede
Shareholders of a leading real estate and hospitality company, Haldane McCall Plc
have endorsed the N220.6 million dividend or 7 kobo per ordinary share of 50 kobo each, which is 32.5 per cent of the profit after tax.
The company’s directors were all re-elected by the shareholders at the first Annual General Meeting (AGM) after its listing on the Nigerian Exchange Limited (NGX), reflecting confidence in their innovative leadership.
The shareholders have also approved the company’s plan for capital raise through Rights Issue to increase its share capital and N250 billion debt instruments in tranches to fund its group’s expansion programme.
Commenting on the company’s performance, a shareholder, Pastor William Adebayo, particularly commended the declaration of dividend, which he described as a vital source of income for shareholders. Other shareholders showered encomiums on the company’s Board and Management.
The Group Managing Director, Edward Akinlade, assured the shareholders of better days ahead.
“Our financial results reflect not only our resilience in the face of a challenging economic environment, but also our commitment to continuous growth and value creation. We experienced a remarkable growth in our financial metrics which is a good testament to our robust business model and effectiveness of our strategic initiatives. Haldane McCall delivers N5billion housing units in Nigeria, Benin Republic, Haldane McCall partners govts, others on affordable housing,” he said.
Corroborating him, the Chairman, Chief George Oguntade explained that the company shall continue to support its stakeholders.
“Haldane McCall Plc is committed to positively change the real estate development landscape in Nigeria and equally contribute its quota in supporting both State and Federal Governments in bridging the massive housing deficit in the country. We will not rest on our laurels and with the support of all our partners and stakeholders, we will deliver a stronger performance next year,” he noted.
The company recorded 164 per cent in profit after tax from N256.96 million in 2023 to N679.6 million in 2024. The growth in profits were driven by increase in revenue and the management divestment in non-core business which generated N20.82 million in the year under review.
Haldane McCall in 2024 declared N3.64 billion revenue, about 109 per cent increase over N1.74 billion in 2023, primarily driven by N2.68 billion sale of land and building in 2024, up by 156 per cent from N1.05 billion in 2023.
